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Level 3 Communications (NYSE:LVLT) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report released on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $40.00 target price on the stock, up from their previous target price of $34.00. DA Davidson’s price objective indicates a potential upside of 15.77% from the company’s current price.

LVLT has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity upgraded shares of Level 3 Communications from a “hold” rating to a “buy” rating in a research note to investors on Thursday. Separately, analysts at Jefferies Group raised their price target on shares of Level 3 Communications from $36.00 to $40.00 in a research note to investors on Thursday. Finally, analysts at Zacks upgraded shares of Level 3 Communications from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, December 31st. They now have a $35.30 price target on the stock. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.04.

Shares of Level 3 Communications (NYSE:LVLT) opened at 34.55 on Thursday. Level 3 Communications has a 52 week low of $19.12 and a 52 week high of $34.90. The stock’s 50-day moving average is $32.95 and its 200-day moving average is $27.95. The company’s market cap is $7.726 billion.

Level 3 Communications (NYSE:LVLT) last announced its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.01. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the company posted ($0.26) earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, analysts predict that Level 3 Communications will post $-0.58 earnings per share for the current fiscal year.

Level 3 Communications, Inc (NYSE:LVLT) is a facilities-based provider of a range of integrated communications services.

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